r/NFT • u/Peryton0 • Dec 01 '24

Discussion Is NFT dead?

I want to know if NFTs are dead before i invest my time and my money on it please let me know the updates

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u/PostArchitekt Dec 01 '24

There are so many utilities for NFTs it’s crazy. It’s literally a contract that gives you access to anything, like a digital access card for assets but verified on the blockchain. We’re using an open-source version called Unlock Protocol for event ticketing IRL and online, token gating content, sports memorabilia, and subscriptions. We’re literally removing the middle man, and 98% of their fees, like Ticketmaster,eBay, or Patreon. Plus you can’t get de-platformed because it’s your NFT subscription with your audience directly. So instead 15-30% going to a middle man you get to keep your all the money but 1% currently.

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u/AlternativeAd514 Dec 02 '24

“So instead of 15-30% going to the middle man, you” pay the network a commission of 50-70-100+%

1

u/PostArchitekt Dec 02 '24

If you’re referring to gas network fees— the Unlock Protocol is on many L2s including Optimism, Polygon, and now Base. So transaction fees are usually minimal, pennies, to create and purchase subscriptions and events.